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LIEBMAN v. GERSTEN, SAVAGE, KAPLOWITZ, ZUKERMAN & LIEBMAN

196 A.D.2d 772 (1993)

602 N.Y.S.2d 16

Richard Liebman, Appellant, v. Gersten, Savage, Kaplowitz, Zukerman & Liebman, Respondent

Appellate Division of the Supreme Court of the State of New York, First Department.

September 28, 1993

Plaintiff's argument that he is entitled to his share of defendant partnership's capital account as reported on schedule K-1 of defendant's tax return overlooks that under Partnership Law § 40, a partner's contributions to capital are to be repaid only after all partnership liabilities are satisfied. There being issues of fact as to the amount of such liabilities, summary judgment on the issue of damages was properly...

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